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| Author: | Negishi, T. |
| Title: | Marx, economies of scale, and the falling rate of profit |
| Journal: | Japan and the World Economy
1998 : VOL 10:3, p. 253-263 |
| Index terms: | MARXIAN ECONOMICS ECONOMIES OF SCALE RATE OF PROFIT IMPERFECT COMPETITION |
| Freeterms: | MARX |
| Language: | eng |
| Abstract: | The Shibata-Okishio theorem denies Marx's law of falling rate of profit. It was demonstrated by the use of the Lausanne school model based on the assumptions of constant returns to scale and perfect competition which Marx did not assume. Marx's competition among capitalists is a world of economies of scale and imperfect competition. The used model should be either Cournot's model of oligopoly or Chamberlain's model of monopolistic competition. |
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